Debevoise & Plimpton LLP has advised Ozon Holdings PLC (“Ozon”), a leading Russian e-commerce platform, in the issue of $750 million senior unsecured bonds due 2026 convertible into American depositary shares (“ADSs”) representing ordinary shares of Ozon (the “Bonds”).
The Bonds carry a coupon of 1.875% per annum. The initial conversion price of the Bonds was set at $86.6480, representing a 42.5% premium above the reference ADS price of $60.8056, being the volume weighted average price of one ADS on the Nasdaq Global Select Market between opening and closing of trading on February 17, 2021. The Bonds were offered and sold outside the United States in reliance on Regulation S of the U.S. Securities Act of 1933, as amended.
Debevoise previously advised Ozon in its $1.1 billion initial public offering of ADSs on the Nasdaq Global Select Market in November 2020. For full details, click here.
The Debevoise team advising Ozon was led by London partner James Scoville and Moscow partner Alan Kartashkin, and included international counsel Dmitry Karamyslov and Vera Losonci, and associates Evgenii Lebedev, Timur Ochkhaev and Milo Gordon-Brown. Tax advice was provided by partner Richard Ward and associate Paul Eastham.